Uber selling Southeast Asia operations to Grab: report

It was first reported last month that Uber could potentially sell its Southeast Asian business to local competitor Grab. Grab has already been giving Uber a very tough time in this market so the word on the street was that Uber was in talks with Grab to sell its business in return for a “sizable stake” in the company. While Uber CEO’s recent comments suggested that the company was not considering a sale, a new report today claims that Uber might sell parts of its Southeast Asia business to Grab. Citing a source with direct knowledge of the talks, Reuters reports that Grab is in “advanced negotiations” to buy part of Uber’s business in the region. If a deal goes through it would be Uber’s second retreat from an Asian market.Uber first sold its division in China to local rival Didi in exchange for a 20 percent stake in the company. Uber has also combined its business with Yandex’s ride-hailing service in Russia for a 37 percent stake.Grab’s potential agree

SINGAPORE (Reuters) - Southeast Asia's Grab has formed a venture with Japanese credit card company Credit Saison Co Ltd to provide loans and lending services in the region, marking the ride-hailing ...

A source told Reuters that Grab is in advanced talks to acquire part of Uber&#x2019;s Southeast Asia business. If it goes through, the deal is expected to mirror the one Uber struck with China&#x2019;s ...